Results of Special General Meeting

August 14, 2015

Ely Gold & Minerals Inc. (the "Company")
is pleased to announce the results of a Special Meeting of
Shareholders, held on July 31, 2015. At the Meeting, shareholders passed
a special resolution approving the sale by the Company's wholly-owned
subsidiary, DHI Minerals (U.S.) Ltd. (
"DHI US"), of its
20% membership interest in Mt. Hamilton LLC for US$6,000,000 in cash
and otherwise on the terms set forth in that certain Membership Interest
Purchase Agreement (
"MIPA") made as of June 10, 2015 among the Company, DHI US and Solitario Exploration & Royalty Corp. ("Solitario"), collectively, (the "Sellers"),
as vendors, Waterton Nevada Splitter, LLC a wholly-owned subsidiary of
Waterton Precious Metals Fund II Cayman, LP (collectively,
"Waterton"), as purchaser. A copy of the MIPA was filed on SEDAR on June 15, 2015.

In addition, Solitario held its annual meeting of shareholders on
August 14, 2015 in Solitario's corporate headquarters in Wheat Ridge,
Colorado. Solitario shareholders overwhelmingly approved the proposal to
sell its 80% membership interest in Mt. Hamilton LLC for US$24,000,000.
The Sellers and Waterton are currently working on closing documents as
described in the MIPA.

About Ely Gold

Ely Gold is focused on the acquisition and development of gold resources
in North America. Besides its interest in the Mt. Hamilton project in
White Pine County, Nevada, the company also has a 100% interest in the
Green Springs project, 5 miles south of Mt. Hamilton. Ely Gold is traded
on the TSX Venture Exchange ("ELY"). Additional information about Ely
Gold is available online at
www.elygoldandminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.